Business

Ethio Telecom Customer Base Reaches 87.1 Million as Telebirr Transactions

Ethio Telecom has reported strong growth in its customer base and digital financial services, according to its six-month performance report for the 2018 fiscal year, presented to journalists on Tuesday. Speaking at the briefing, Ethio Telecom Chief Executive Officer Frehiwot Tamiru said the company has undertaken major infrastructure upgrades to support up to 108 million

January 29, 2026 • By Addis Insight

Business

Ethiopian Airlines Cancels Flights to Tigray Cities Without Official Explanation

ADDIS ABABA — Ethiopian Airlines has canceled all scheduled flights between Addis Ababa and multiple cities in Ethiopia’s Tigray region, disrupting passenger travel and raising questions amid the absence of an official explanation from the airline or government authorities. Passengers scheduled to travel on Thursday, January 21, 2018 (Ethiopian Calendar), reported receiving short text messages

January 29, 2026 • By Addis Insight

Business

National Bank of Ethiopia Launches Automated Interbank Trading FX Market Platform

Addis Ababa, Ethiopia — January 28, 2026 The National Bank of Ethiopia (NBE) has launched the country’s first Automated Interbank Foreign Exchange Market, a landmark move aimed at strengthening price transparency and accelerating Ethiopia’s broader macroeconomic and financial sector reforms. The new platform enables commercial banks to trade foreign currency through a real-time, market-based system,

January 28, 2026 • By Addis Insight

Business

Ethiopia Launches Automated Interbank FX Market in Major Step Toward Price Liberalization

Ethiopia has launched its first Automated Interbank Foreign Exchange Market, marking a significant milestone in the country’s ongoing macroeconomic reforms and efforts to modernize its financial sector. The National Bank of Ethiopia (NBE) announced that the new interbank foreign exchange trading platform has officially begun operations, enabling commercial banks to trade foreign currency through a

January 28, 2026 • By Addis Insight

Business

Inside Ethiopia’s Modern Air Fleet: What Was Revealed at the 90th Anniversary Show

When the Ethiopian Air Force marked the 90th anniversary of its formation with a rare public air show—branded the Black Lion display—the spectacle was not merely ceremonial. It was a carefully choreographed signal: Ethiopia intends to reassert itself as a serious air power in the Horn of Africa, at a time when regional security competition,

January 28, 2026 • By Addis Insight

Business

Veriq Launches to Help Ethiopian Businesses Combat Digital Payment Fraud

ADDIS ABABA, ETHIOPIA — As digital payments surge across Ethiopia, local businesses are facing a growing threat: fraudulent or reused payment confirmations. To bridge this trust gap, software engineer Abel Legesse has announced the launch of Veriq, an Android-based verification tool designed to protect merchants from transaction fraud in real time. Veriq tackles the “fake

January 28, 2026 • By Addis Insight

Business

Ethiopia to Launch Fuel Transportation by Rail in Logistics Reform Push

Ethiopia will begin transporting fuel products by rail starting Tuesday, marking a major shift in how the country moves strategic imports and signaling a renewed push to reduce logistics costs, foreign-exchange losses, and pressure on its overstretched road network. The pilot project is being implemented by the Ethio-Djibouti Railway Joint Stock Company (EDRC) in partnership

January 28, 2026 • By Addis Insight

Business

Italy to Hold Italy–Africa Summit in Addis Ababa for the First Time

Italy will convene the second Italy–Africa Summit on February 13 in Addis Ababa, in a landmark move that brings the high-level forum to African soil for the first time. The summit will be held on the margins of the African Union (AU) Summit, immediately ahead of the AU Assembly of Heads of State and Government,

January 28, 2026 • By Addis Insight

Business

Zemen Bank Assets Hit 106 Billion Birr as Mid-Year Profit Tops 5 Billion

Addis Ababa — Zemen Bank reported a strong first-half performance in the 2018 Ethiopian fiscal year, with total assets rising to 106 billion birr and customer deposits reaching 80 billion birr, underscoring steady growth and deepening customer confidence. Speaking at the bank’s mid-year performance review, CEO Dereje Zebene said Zemen Bank generated more than 5

January 28, 2026 • By Addis Insight

Business

Ethiopian Airlines secures five-year ExxonMobil aviation lubricants supply deal

Ethiopian Airlines Group has signed a five-year agreement to source ExxonMobil aviation lubricants through Aeroservices, an authorized ExxonMobil aviation distributor, shoring up a critical input for the maintenance of Africa’s largest airline fleet. The long-term contract covers the supply of technical lubricants used across engines, hydraulic systems and aircraft components, a category of materials that

January 27, 2026 • By Addis Insight